ANC President Cyril Ramaphosa is on a begging mission to London in an effort to prevent the bankrupt South Africa’s economic downfall.
The visit is a result of the recent appointment only the Presidential Economic Advisory Council, which is apparently composed of experts and recommended that the ANC go begging abroad.
With municipalities that are technically bankrupt due to their debt burden to Eskom, and the power provider’s operating loss of R21 billion, as well as a debt burden of R430 billion, investors are unlikely to risk investing in South Africa.
With Moody’s as the only rating agency that has not yet downgraded to junk status, Ramaphosa’s mission is once again doomed to failure.
His promise of two years ago for investors to invest billions in South Africa was a gimmick that led to nothing, and his new mission will be full of promises, but nothing will happen, he said.